Wright Medical Group, Inc. (NASDAQ:WMGI) has earned an average rating of “Hold” from the twelve analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $28.86.
WMGI has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $30.00 price target on shares of Wright Medical Group and gave the stock a “buy” rating in a research note on Monday, January 8th. TheStreet downgraded shares of Wright Medical Group from a “c-” rating to a “d+” rating in a report on Wednesday, December 27th. Oppenheimer set a $25.00 price objective on shares of Wright Medical Group and gave the stock a “hold” rating in a report on Wednesday, February 28th. BidaskClub raised shares of Wright Medical Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, BMO Capital Markets dropped their price objective on shares of Wright Medical Group from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Palo Alto Investors LLC boosted its holdings in shares of Wright Medical Group by 2.2% in the fourth quarter. Palo Alto Investors LLC now owns 2,736,293 shares of the medical device company’s stock worth $60,746,000 after buying an additional 59,900 shares during the last quarter. AXA lifted its holdings in Wright Medical Group by 573.7% during the fourth quarter. AXA now owns 1,876,649 shares of the medical device company’s stock valued at $41,662,000 after purchasing an additional 1,598,074 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Wright Medical Group by 11.2% during the fourth quarter. Macquarie Group Ltd. now owns 1,545,448 shares of the medical device company’s stock valued at $34,309,000 after purchasing an additional 156,093 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in Wright Medical Group by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 988,636 shares of the medical device company’s stock valued at $21,948,000 after purchasing an additional 6,202 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in Wright Medical Group during the fourth quarter valued at approximately $20,688,000.
Shares of WMGI stock opened at $19.29 on Wednesday. Wright Medical Group has a 52 week low of $19.04 and a 52 week high of $30.91. The company has a market capitalization of $2,076.82, a PE ratio of -87.68 and a beta of 0.66. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.37 and a quick ratio of 0.96.
Wright Medical Group (NASDAQ:WMGI) last announced its quarterly earnings results on Tuesday, February 27th. The medical device company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. Wright Medical Group had a negative net margin of 27.19% and a negative return on equity of 3.78%. The firm had revenue of $217.60 million during the quarter, compared to analyst estimates of $215.69 million. equities research analysts anticipate that Wright Medical Group will post -0.18 EPS for the current fiscal year.
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Wright Medical Group Company Profile
Wright Medical Group N.V., a medical device company, designs, manufactures, markets, and sells extremities and biologics products. The company offers joint implants and bone fixation devices for the shoulder, elbow, wrist, hand, foot, and ankle; and biologics products that are used for supporting the treatment of damaged or diseased bones, tendons, and soft tissues, as well as to stimulate bone growth.
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